Arrow Electronics (NYSE:ARW – Free Report) had its price target reduced by Raymond James from $140.00 to $135.00 in a research report report published on Friday morning, Benzinga reports. They currently have an outperform rating on the technology company’s stock.
ARW has been the topic of several other reports. Wells Fargo & Company upped their target price on Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. Truist Financial cut their price objective on shares of Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a research report on Friday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Arrow Electronics currently has an average rating of “Hold” and an average target price of $124.25.
Get Our Latest Stock Analysis on ARW
Arrow Electronics Price Performance
Arrow Electronics (NYSE:ARW – Get Free Report) last issued its earnings results on Thursday, October 31st. The technology company reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.15. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. The company had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.73 billion. During the same quarter last year, the business posted $4.14 EPS. The company’s revenue for the quarter was down 14.8% on a year-over-year basis. Equities research analysts predict that Arrow Electronics will post 10.74 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Arrow Electronics
Several institutional investors and hedge funds have recently added to or reduced their stakes in ARW. Versant Capital Management Inc raised its position in shares of Arrow Electronics by 794.6% in the second quarter. Versant Capital Management Inc now owns 331 shares of the technology company’s stock valued at $40,000 after purchasing an additional 294 shares during the period. Whittier Trust Co. of Nevada Inc. raised its holdings in Arrow Electronics by 76.5% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 346 shares of the technology company’s stock worth $45,000 after acquiring an additional 150 shares during the period. Capital Performance Advisors LLP acquired a new position in Arrow Electronics during the 3rd quarter worth $73,000. DekaBank Deutsche Girozentrale bought a new stake in Arrow Electronics during the third quarter valued at about $78,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Arrow Electronics in the third quarter valued at about $88,000. 99.34% of the stock is currently owned by institutional investors and hedge funds.
Arrow Electronics Company Profile
Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Global Components and Global Enterprise Computing Solutions.
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